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News & Insights

Supreme Court interprets exclusive jurisdiction provisions narrowly

by Leela|19 December 2019|Industry News

On 29 July 2019, the Supreme Court handed down its decision in Akçil and others v Koza Ltd and another [2019], which overturned the decision of the Court of Appeal [2017], with regard to the interpretation of the exclusive company law jurisdictional provisions in Article 24(2) of the Regulation (EU) 1215/2012 (the “Brussels I (Recast) Regulation”) The judgment […]

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Key changes to The UK Stewardship Code

by Leela|13 December 2019|Our Thinking

The new UK Stewardship Code has been published and takes effect from 1 January 2020… Are you signing up? If so, make sure you know about the updated principles and your reporting obligations, which are covered in our latest article.

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Brexit Update: The Revised Withdrawal Agreement

by Leela|13 December 2019|Our Thinking

After three years of negotiations, three rejections of the withdrawal agreement negotiated by Ms. Theresa May with the EU and one request to extend the negotiation period, the UK is somehow nowhere closer to agreeing the terms of its withdrawal from the EU. Approval for the revised withdrawal agreement which was put forward by Mr […]

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Competing jurisdiction clauses

by Leela|9 December 2019|Industry News

This case is yet another ruling of English courts on competing clauses, and reaffirms the importance of the jurisdiction choices made through standard documentation in financial and derivatives documentation. In October 2008, Trattamento Rifiuti Metropoliani SpA (“TRM”), an Italian company specialised in waste treatment, entered into a financing agreement with a syndicate of banks led […]

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Climate Change Reporting: The impact and risks of climate change

by Leela|3 December 2019|Industry News

SUMMARY The Task Force on Climate-related Financial Disclosures (“TCFD”) was established by the Financial Stability Board in December 2015 to develop a set of voluntary and consistent climate-related disclosure recommendations for use by organisations to provide information to investors, lenders, insurance underwriters and other stakeholders about climate-related financial risks. The TCFD assists organisations in understanding […]

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The Supreme Court of Ireland affirms High Court’s finding of fraudulent misrepresentation in Harlequin case

by Leela|2 December 2019|Industry News

In reference to the case Harlequin Property (SVG) Ltd, (the Plaintiffs) vs O’Halloran (the “Defendant”) [2019] IESC 76, on 1 November 2019, the Supreme Court affirmed the High Court’s finding of fraudulent misrepresentation against the Defendant and dismissed his appeal. BACKGROUND In May 2008, the Plaintiffs, entered into a contract with a group of companies […]

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The UK Investment Association launches a final report on responsible investment

by Leela|28 November 2019|Industry News

On 18 November 2019, the UK Investment Association (the “IA”), a trade body representing investment and asset management firms in the UK, launched a final report (the “Report”) on the first industry-agreed responsible investment framework with the goal of bringing clarity and consistency to investors regarding the products and opportunities available to them. The IA […]

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First shareholder class action in England and Wales is dismissed

by Leela|19 November 2019|Industry News

SUMMARY On 15 November 2019, the first judgement on a shareholder class action in England and Wales was delivered, dismissing a claim brought by a group of Lloyds shareholders against Lloyds TSB plc (“Lloyds”) and five of its former directors relating to an acquisition of HBOS plc (“HBOS”) in 2008. Sharp v Blank [2019] EWHC […]

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Brexit update: FCA extends deadline; EU Commission clarifies equivalence decision; Czech Republic and Malta approve no deal laws

by Leela|11 November 2019|Our Thinking

With the EU granting the UK another flexible extension of the negotiation period around the UKs withdrawal from the EU until the 31 January 2020 and a general election on 12 December 2019, the situation remains uncertain with a no deal Brexit remaining a possibility. It therefore makes sense to continue to monitor the current status […]

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